EQS-News: Travelex Issuerco 2 Plc / Key word(s): Quarter Results
Travelex Issuerco 2 Plc: Results for Q2 2022

26.08.2022 / 11:45 CET/CEST
The issuer is solely responsible for the content of this announcement.


Travelex Issuerco 2 Plc

Results for Q2 2022

Travelex Issuerco 2 Plc

26 August 2022


Travelex Issuerco 2 Plc (“Travelex” or the “Company”)

26 August 2022

Results for Q2 2022 (“Q2 Results”)

The Company’s Q2 Results are accessible via the following link:

[1] http://www.rns-pdf.londonstockexchange.com/rns/3709X_1-2022-8-26.pdf

Travelex generated revenues of £106.8m in Q2 2022 (Q2 2021: £31.7m), which
is a 55% increase on the £68.8m reported in the first quarter.  UK,
Europe, Brazil and MET continued their strong revenue recoveries into Q2,
whilst the reopening of countries across Asia and ANZ has driven much
improved financial performances in these markets.

Travelex produced positive underlying EBITDA in Q2 2022 of £8.4m, the
first EBITDA positive quarter since 2019, £27m favourable to Q2 2021 and
just £2.3m lower than 2019 despite the lower revenue. First half EBITDA
was £1.7m, which was £40.8m favourable to 2021 and only £3.8m lower than

The improved revenue performance has been driven by a rapid return of
revenues since the start of 2022 as the impact of the Covid-19 pandemic
has dissipated and travel restrictions have been lifted across most major
markets. Despite significantly less costs than in 2019, the focus
continues on ensuring cost reinvestment is linked to revenue recovery but
the well-publicised challenge of recruiting staff, which is impacting
businesses globally, has also led to some delay on the reintroduction of
staff costs in key markets, which has helped increase Travelex’s EBITDA.

Richard Wazacz, Travelex CEO, said:

“We are delighted to be back on a firm financial footing, and our positive
Q2 results are testament to the hard work of every member of the Travelex
team – all of whom have helped drive the company forward through
challenging conditions in recent times.”

“With travel returning and Travelex creating more than 1,200 jobs
worldwide, coupled with the development of new digital solutions, we are
both optimistic for the future of the business and hugely excited to serve
our customers in new ways.”



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26.08.2022 CET/CEST This Corporate News was distributed by EQS Group AG.


Language: English
Company: Travelex Issuerco 2 Plc
8 Sackville Street
W1S 3DG London
United Kingdom
Phone: +44(0)7584336458
E-mail: Victoria.benis-lonsdale@travelex.com
Internet: https://www.travelex-corporate.com/
ISIN: XS2248458049, XS2248456936
Listed: Vienna Stock Exchange
EQS News ID: 1429111

End of News EQS News Service

1429111  26.08.2022 CET/CEST


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